Legislative Session number- 82

Bill Name: SF3449

Providing for the financing and construction of a major league baseball park;
authorizing and providing for the commissioner of finance to issue revenue bonds
to finance the predesign, design, construction, furnishing and equipment of the
baseball park, limit, requiring deposit of bond proceeds in the ballpark revenue
bond proceeds fund; requiring the baseball team (Minnesota Twins) to choose a
local public partner to provide the site and construct and own the ballpark,
requiring notice to the commissioner of the choice by a certain date and
specifying certain public partner agreement and team ballpark lease and donation
requirements; authorizing the commissioner to require additional covenants,
pledges and guarantees to secure payment of debt service on the revenue bonds;
authorizing the public partner to use the proceeds from taxes, fees, charges and
surcharges for contributions to team donations; exempting real or personal
property acquired, owned, leased, controlled, used or occupied by a major league
professional baseball team from the property tax, subjecting the property to
special assessments, sunset (mk)